Picks for January 4, 2008

By Jason Wall - Daily Online Trading Picks

Been slacking a little bit with the holidays, but promise starting January 14th, I will be back full time to the day trading. I will try to post every day next week, but can't promise.

Dec 20 Wrap-up:

Uranium stocks are again picking up momentum. Not sure if they will continue the ride or pull back again. Keep watching your candlesticks.

WNR did in fact pull back again and has double bottomed. It will be interesting if it goes below it's 52 week low. This would have been a good short when I called it last week.

Friday's BUYS: (if market is up)

UUU.TO looks to have broken some support and ready make a break out
WDC - watch this one. It currently has a bullish reversal candlestick and has bounced off an uptrend so this one should be ready to go back up. Tomorrow is important to watch for a confirm candlestick.
TIM.TO - one more down day on this one. Maybe put an alert for around $18.00. Might be a good entry point as it will bounce off an uptrend and will hit the 20 day moving average.

Generally strong sectors are oil, uranium, mining, gold, potash.

Friday's SHORTS: (if market is down)

I will just mention some general short sectors... Financial, chip stocks

Good trading to everyone...


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About the Author: Jason Wall owns and runs various web sites and is also a daytrader.

Source: Daily Online Trading Blog